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Resource Transfers to the Elderly: Do Adult Children Substitute Financial Transfers for Time Transfers?

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Author Info

  • Julie Zissimopoulos

Abstract

Using the Health and Retirement Study, this research investigates whether an adult child substitutes financial transfers to an elderly parent for time transfers as the cost of his or her time increases. The author develops and estimates a model of the effect of a child's wage rate on time and money transferred to an elderly parent. She then calculates a wage elasticity and studies how this varies with the existence of substitutes such as siblings and a spouse, and how this varies by sex of the child. The results show that an adult child will substitute money for time. Furthermore, the author finds that for a male child, a spouse is a substitute helper for elderly parents and that for a female child a spouse is a complementary helper while siblings serve as substitutes.

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File URL: http://www.rand.org/content/dam/rand/pubs/drafts/2008/DRU2542.pdf
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Bibliographic Info

Paper provided by RAND Corporation Publications Department in its series Working Papers with number 01-05.

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Length: 32 pages
Date of creation: Mar 2001
Date of revision:
Handle: RePEc:ran:wpaper:01-05

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References

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  1. Hiedemann, Bridget & Stern, Steven, 1999. "Strategic play among family members when making long-term care decisions," Journal of Economic Behavior & Organization, Elsevier, vol. 40(1), pages 29-57, September.
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  4. Joseph G. Altonji & Fumio Hayashi & Laurence Kotlikoff, . "The Effects of Income and Wealth on Time and MOney Transfers Between Parents and Children," IPR working papers 96-5, Institute for Policy Resarch at Northwestern University.
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  17. Cox, Donald & Rank, Mark R, 1992. "Inter-vivos Transfers and Intergenerational Exchange," The Review of Economics and Statistics, MIT Press, vol. 74(2), pages 305-14, May.
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  21. Pezzin, Liliana E & Schone, Barbara Steinberg, 1997. "The Allocation of Resources in Intergenerational Households: Adult Children and Their Elderly Parents," American Economic Review, American Economic Association, vol. 87(2), pages 460-64, May.
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  25. Hurd, Michael D, 1990. "Research on the Elderly: Economic Status, Retirement, and Consumption and Saving," Journal of Economic Literature, American Economic Association, vol. 28(2), pages 565-637, June.
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Citations

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Cited by:
  1. Martie Gillen & Hyungsoo Kim, 2014. "Older Adults’ Receipt of Financial Help: Does Personality Matter?," Journal of Family and Economic Issues, Springer, vol. 35(2), pages 178-189, June.
  2. Olena Nizalova, 2010. "The Wage Elasticity of Informal Care Supply: Evidence from the Health and Retirement Study," Discussion Papers 32, Kyiv School of Economics, revised Nov 2011.
  3. Yukawa, Shiho, 2012. "女性の賃金が親への介護行動に与える影響
    [The Effect of Women's Wage on Elderly Care]
    ," MPRA Paper 35801, University Library of Munich, Germany.
  4. Paula C. Albuquerque, 2014. "The Interaction of Private Intergenerational Transfers Types," Working Papers Department of Economics 2014/03, ISEG - School of Economics and Management, Department of Economics, University of Lisbon.

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